The contract was signed on Saturday in Dubai by ENOC CEO Hussain Sultan, HHI Vice-Pres. Ship Sales B.O. Kim and Anis Al Jallaf, and the CEO of Emirates Bank Group, which has been mandated for the financing.

"These tankers, which will carry clean petroleum products, will be state-of-the-art. They will be fitted with the latest deep well pumps and meet international environment safety requirements for being double-hulled," said Sultan.

The new builds will join a DSC fleet, which currently comprises $150 million of oil and chemical tankers, including two double-hull tankers, five single-hull vessels, and one double-side ship.